Guideline Value for OM SAKTHI STREET (WARD -15)

Om Sakthi Street (Ward -15) guideline value

The current guideline value of Om Sakthi Street (Ward -15) is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai village, under the Chengleput Joint II SRO, classified as Residential Class I Type - III.

How the guideline value of Om Sakthi Street (Ward -15) has changed

The guideline value for Om Sakthi Street has undergone several revisions over the years. In 2012, the value was set at Rs 600 per sq.ft. This remained unchanged until 2017 when it dropped to Rs 402 per sq.ft, marking a decrease of 33%. The value then increased to Rs 600 per sq.ft in 2023, before rising again to Rs 660 per sq.ft in the 2024 revision, representing a 10% increase.

From 2017 to 2023, there was a significant increase of 49%. Overall, comparing the values from 2012 to 2024, there has been a net increase of 10%. The register does not provide figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing Om Sakthi Street's 2024 value below this median.

• Om Sakthi Street (Per): Rs 660 per sq.ft (2024)
• Ottakoothar Street (Ward -6): Rs 1,321 per sq.ft (2024)
• Paavanar Street (Ward -4): Rs 1,760 per sq.ft (2024)
• Paavendar Nagar: Rs 1,980 per sq.ft (2024)
• Paavendar Steet (Ward -6): Rs 1,980 per sq.ft (2024)
• Paaventhar Street (Ward -5): Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Om Sakthi Street (Ward -15)

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, totaling Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Om Sakthi Street (Ward -15)?

The Sub Registrar Office that covers Om Sakthi Street (Ward -15) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Ninna Karai

The guideline value is a crucial factor in the registration process when buying or selling property in Ninna Karai. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the transaction is recorded at a fair value set by the government.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the registration process is transparent and that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Om Sakthi Street (Ward -15)?

The current guideline value of Om Sakthi Street (Ward -15) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then increased to Rs 600 per sq.ft in 2023, and is now Rs 660 per sq.ft in 2024.

What is the median guideline value in Ninna Karai?

The median guideline value for streets in Ninna Karai is Rs 1,100 per sq.ft, which is higher than the current value of Om Sakthi Street.

What are the stamp duty and registration fees for a property in Om Sakthi Street?

For a 1,000 sq.ft property, the total stamp duty and registration fees would amount to Rs 59,400, based on the current guideline value.

Which office handles the registration for Om Sakthi Street?

The Chengleput Joint II Sub Registrar Office handles the registration for Om Sakthi Street (Ward -15), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.